PetroChoice is a Is a distributor of mobile branded lubricants and is active In 25 US states
In a major step to date in its internationalization plan, Move has partnered with the Goshen company and completed its acquisition of PetroChoice, one of the main American distributors operating in the lubricants industry, for 479 million U.S. dollars.
According to a fact made public this Monday, May 23, PetroChoice a Distributor and marketer of mobile brand and proprietary brand lubricants. It distributes and operates approximately 240 million liters of lubricants per year In 25 U.S. states there are two and more lubricating oil blending plants 50 distribution centers.
The volume distributed by PetroChoice reflects Moove’s large profit margin, recording a total sales volume of 388.7 million cubic meters of lubricants last year.
With a net profit of 6.1 billion reais last year, it represents 24.5% of Cosan’s consolidated results and should add 50% to its income thanks to the acquisition of Moove, the company’s CEO said. , Filipe Affonso Ferreira, in an interview. Reuters.
The acquisition also expands the US operations of Move, which is currently focused on distributing mobile lubricants in New York and New Jersey.
The move is controlled by Cosan and private equity fund CVC Capital Partners is a strategic partner. It operates globally in the production and distribution of mobile, comma and professional brands. In addition to the United States, Move operates in Argentina, Portugal, Spain, France and the United Kingdom.
In Brazil, MoveMobile operates in the production and distribution of branded lubricants and operates a franchise network specializing in zip-buckle vehicle services.
The film’s international expansion is one of Kozan’s goals. The company began its overseas operations in 2011 with the acquisition of exclusive distribution rights for mobile lubricants in Paraguay, Uruguay and Bolivia.
In 2012, Cama acquired the brand’s UK operations, producing, selling and distributing lubricants to over 40 countries in Europe and Asia. In 2017 Move began distributing mobiles in the UK and Scotland through the acquisition of WP Group operations, and in 2018 ExxonMobil acquired operations in Argentina and continued expansion plans with the acquisition of Lubricrobo (Portugal) and DTA (France).
Ferreira told investors last year that the company wants to consolidate in the coming years as a multinational lubricants company looking to expand in the United States and Europe.
Last year, like Raízen, Move made a name for itself in conversations about the initial public offering of shares last year as part of an enhanced corporate restructuring in the company of the man Rubens Ometto cases. However, there is no forecast of when the offering will take place.
Kozan shares rose 3.81% to R$19.33. During the year, they fell by 8.7% and had a total market value of 34.8 billion reais.